Instant payment environment in Slovenia

Instant payment environment in Slovenia

Interview with Boris Bjelica, President of the Payment Services Committee at the Bank Association of Slovenia (ZBS)

26 January 21

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The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council.

Since November 2020, the SEPA Instant Credit Transfer (SCT Inst) scheme has been in use in Slovenia, where six payment service providers (PSPs) have joined the scheme to date. We interviewed Boris Bjelica, President of the Payment Services Committee at the Bank Association of Slovenia (ZBS), to share the lessons his community has learned while implementing the scheme. In addition, our infographic summarises all you need to know about the Slovenian landscape.

In November 2020, the first Slovenian PSPs adhered to the SCT Inst scheme. What were the main reasons that led to the decision to use this scheme in Slovenia? 

The main reasons for deciding to use the SCT Inst scheme in Slovenia were:

  • In 2018, all Slovenian PSPs agreed to establish FLIK, a domestic payment scheme for instant payments
  • In accordance with the PSP agreement, an instant payment system, Bankart Instant Payment System (BIPS), was implemented in 2019 by the processor Bankart d.o.o.
  • The Slovenian national instant payment environment (and solution) was developed on the basis of the SCT Inst scheme.
  • The national environment, i.e. the Bankart Instant Payments System (BIPS-IP) system, is divided into three solutions
       - BIPS-IP for commercial interbank instant payments – Q1 2020
       - FLIK Domestic payment scheme 
              - BIPS-IP for person-to-person (P2P) instant payments, transfer of funds between users of mobile solution – Q2 2020
              - BIPS-IP for instant payment at the point of sale (P2M) mobile payments – pilot Q2 2020 
  • Following the decision of Slovenian banks to join the TARGET Instant Payment Settlement (TIPS) cross-border payment system, five banks signed an adherence agreement with the EPC for official adherence to the EPC SCT Inst scheme – Q4 2020.
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Can you tell us about Slovenia’s first months of concrete experience with the SCT Inst scheme and what are the main lessons already learned? 

With instant P2P mobile funds transfers between payment accounts, users will quickly recognise the benefits of a simple, fast payment service.

Offering instant payments through online and mobile banking channels will trigger the mainstreaming of instant payments and will soon extend a good user experience to commercial domestic and cross-border instant payments.

What developments related to the SCT Inst scheme do you expect in 2021? 

By 2021, the majority of Slovenian banks will have announced their official adherence to the EPC SCT Inst scheme and entry into the instant cross-border payment system TIPS.


Finally, a broader question: what are the main characteristics of Slovenia’s payment landscape and how do you see it developing over the coming five years?

  • In Slovenian banks, payment transactions are executed via SEPA payment systems, TARGET2 and the SWIFT correspondent banking environment.
  • The majority of domestic and cross-border payment transactions – credit transfers and all direct debits – are executed through payment systems operating under the EPC SCT and SEPA Direct Debit schemes.
  • Banks have  completely embraced the new dimensions offered by the instant payment environment, which will gradually outgrow existing payment systems and become the standard in a few years

Infographic: The Slovenian payment landscape (January 2021)

(Click to enlarge and download)



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